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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
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